Lykke Review 2024

Our veredict

Lykke is a Swiss cryptocurrency exchange that offers zero trading fees and a wide range of supported assets, including fiat currencies and various cryptocurrencies. Its fee-free trading model, combined with low spreads and advanced trading tools like automated APIs, makes it an attractive option for both new and experienced traders looking to maximize their returns. Additionally, Lykke supports innovative products such as native tokens tied to crypto indices, providing unique investment opportunities.

However, Lykke is not without its drawbacks. The platform restricts access from several major countries, including the US and Canada, limiting its global reach. Additionally, while it offers a seamless trading experience, its customer support and liquidity score could use improvement, potentially impacting user experience during high-traffic periods.

Pros

Zero Trading Fees: Lykke offers a unique trading experience by not charging any trading fees for both makers and takers, which allows users to maximize their profits without worrying about transaction costs.
Supports Multiple Fiat Currencies: Lykke supports trading in multiple fiat currencies, including USD, EUR, and CHF. This flexibility allows users to trade seamlessly between fiat and cryptocurrencies.
Low Spreads: The platform is known for its low spreads, making it one of the most cost-effective exchanges for trading various cryptocurrencies. This feature ensures that traders get the best possible prices.

Cons

Limited Country Availability: Lykke restricts access from several major countries, including the US and Canada, which limits its global reach and accessibility for potential users from these regions.
Lower Liquidity Score: The exchange has a relatively lower liquidity score, which might impact the ease of executing large trades, especially during periods of high market volatility.

Threenvest Score

Fees

0.10% (Maker), 0.10% (Taker)

U.S Legal

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To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

Why choose Lykke?

Choosing Lykke as your cryptocurrency exchange can be a strategic move for several reasons. Firstly, Lykke’s zero trading fees make it one of the most cost-effective platforms available. This fee-free model means that traders can maximize their profits without worrying about additional costs eating into their returns. Additionally, the exchange offers competitive spreads, ensuring that users get the best possible prices when buying or selling cryptocurrencies.

Another compelling reason to choose Lykke is its robust support for multiple fiat currencies and innovative financial products. The platform allows users to trade a variety of fiat currencies against cryptocurrencies, providing greater flexibility and convenience. Moreover, Lykke offers unique index-based tokens like LyCI, which represent baskets of top-performing cryptocurrencies. These tokens provide a diversified investment option that can appeal to both novice and experienced traders.

Lykke’s advanced trading tools, such as automated trading APIs, cater to the needs of both beginner and professional traders. The high-frequency trading API, for instance, enables algorithmic trading with zero fees, allowing users to execute complex trading strategies efficiently. Additionally, Lykke’s commitment to security, with features like multi-signature wallets and two-factor authentication, ensures that users’ assets are well-protected. These strengths, combined with its regulatory compliance in Switzerland, make Lykke a reliable and attractive choice for cryptocurrency trading.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert in cryptocurrency trading, I highly recommend Lykke for its unique zero-fee trading model and advanced tools. Lykke offers a cost-effective platform, allowing traders to maximize their profits without incurring trading fees. Additionally, its support for multiple fiat currencies and innovative index-based tokens provides diversified investment opportunities. With robust security measures and compliance with Swiss regulations, Lykke ensures a secure and reliable trading environment, making it an excellent choice for both beginners and seasoned traders.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.